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||||||Page|
|---|---|---|---|---|---|
|Reference and Administrative||Details ofthe Charitable|Company,|its Trustees and||
|Advisers||||||
|Trustees'
Report|||||2-7|
|Independent
Auditors'|Report||||8-11|
|Statement of Financial|Activities||||12|
|Balance Sheet||||||
|Statement ofCash Flows|||||14|
|Notes to the Financial|Statements||||15-34|
##
##
|Trustees|||Rt Hon Alan Milburn,|Rt Hon Alan Milburn,|Chairman|Chairman|
|---|---|---|---|---|---|---|
||||Namrata
Patel||||
||||Ann Doherty||||
||||Lee Cain||||
||||Fiona Dawson||||
||||Dr Bandhana|Rawal|||
||||Heider Ridha||||
||||Ben Rodham||||
||||Ruth Owen||||
|Company|registered||||||
|number|||05488354||||
|Charity registered|||||||
|numbers|||1115888and SC051842||||
|Registered||office|The Timber Yard||||
||||17Drysdale Street||||
||||London||||
||||N1 6ND||||
|Chief Executive|||Sarah Atkinson||||
|Independent||auditors|Lubbock Fine|LLP|||
||||Chartered
Accountants|||& Statutory Auditors|
||||Paternoster
House||||
||||65St Paul's Churchyard||||
||||London||||
||||EC4M 8AB||||
|Bankers|||Coutts 8 Co||||
||||440 Strand||||
||||London||||
||||WC2R OQS||||
|Legal Advisors|||Baker 8 McKenzie||||
||||100 New Bridge Street||||
||||London||||
||||EC4V 6JA||||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
|||Note|||||
|INCOME FROM:|||||||
|Donations
and grants||3|1,233,543|1,504,588|2,738,131|2,457,547|
|Charitable
activities||4|67,075||67,075|45,690|
|Investments||||||159|
|Other income|||8,181||8,181|2,429|
|TOTAL INCOME|||1,308,799|1,504,588|2,813,387|2,505,825|
|EXPENDITURE ON:|||||||
|Raising funds||7|10,469|10,905|21,374|13,570|
|Charitable
activities||8|1,163,032|1,375,114|2,538,146|1,782,097|
|TOTAL EXPENDITURE|||1,173,501|1,386,019|2,559,520|1,795,667|
|NET MOVEMENT|IN FUNDS BEFORE||||||
|OTHER RECOGNISED GAINS|||135,298|118,569|253,867|710,158|
|RECONCILIATION|OF FUNDS:||||||
|Total funds brought|forward||1,313,077|431,654|1,744,731|1,034,573|
|Net movement
in funds|||135,298|118,569|253,867|710,158|
|TOTAL FUNDS CARRIED FORWARD|||1,448,375|550,223|1,998,598|1,744,731|
##
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|||||2022||2021|
|---|---|---|---|---|---|---|
|||Note|||||
|FIXEDASSETS|||||||
|Tangible assets||12||26,748||5,264|
|CURRENT ASSETS|||||||
|Debtors: amounts|falling due after more than||||||
|one year||13|8,490||8,490||
|Debtors: amounts|falling due within one year|13|352,099||277,893||
|Cash at bank and|in hand||1,846,244||1,725,699||
||||2,206,833||2,012,082||
|Creditors: amounts|falling due within one||||||
|year||14|(168,758)||(272,615)||
|NET CURRENT ASSETS||||2,038,075||1,739,467|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||||2,064,823||1,744,731|
|Creditors: amounts|falling due after more||||||
|than one year||15||(66,225)|||
|TOTAL NET ASSETS||||1,998,598||1,744,731|
|CHARITY FUNDS|||||||
|Restricted
funds||20||550,223||431,654|
|Unrestricted
funds||20||1,448,375||1,313,077|
|TOTAL FUNDS||||1,998,598||1,744,731|
##
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|||||2022|2021|
|---|---|---|---|---|---|
||||Note|||
|CASH FLOWS FROM OPERATING ACTIVITIES||||||
|Net cash used
in operating|activities||22|148,208|549,818|
|CASH FLOWS FROM INVESTING ACTIVITIES||||||
|Interest from investments|||||159|
|Purchase oftangible
fixed|assets|||(27,663)|(2,564)|
|NET CASH USED IN INVESTING ACTIVITIES||||(27,663)|(2,405)|
|CHANGE
IN CASH AND|CASH EQUIVALENTS|IN THE YEAR||120,545|547,413|
|Cash and cash equivalents|at the beginning
ofthe year|||1,725,699|1,178,286|
|CASH AND CASH EQUIVALENTS AT THE END||OF THE YEAR|23|1,846,244|1,725,699|
|The notes on pages 15to|34 form part ofthese financial statements|||||
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||||2022|2021|
|---|---|---|---|---|
||||F|F|
|Depreciation
oftangible||fixed assets|6,152|4,766|
|Auditors|remuneration||27,840|14,953|
|Operating|lease expense||52,200|45,147|
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2022|
||||F|F|
|Donations|and grants|1,005,274|1,504,588|2,509,862|
|Gifts in Kind||228,269||228,269|
|Total 2022||1,233,543|1,504,588|2,738,131|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
|Donations|and grants|957,805|1,280,001|2,237,806|
|Gifts in Kind||219,741||219,741|
|Total 2021||1,177,546|1,280,001|2,457,547|
##
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
||||F|
|Pro bono legal fees||5,278|5,278|
|Marketing||184,254|184,254|
|Venue|hire|1,737|1,737|
|Mentoring||37,000|37,000|
|Total|2022|228,269|228,269|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|Pro bono legal fees||36,596|36,596|
|Marketing||183,145|183,145|
|Total|2021|219,741|219,741|
##
||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2022|2022|
|Income|from|charitable|activities|- Contracts|for|services|67,075|67,075|
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2021|2021|
|45,690|45,690|
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2021|2021|
|F|F|
|159|159|
|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|F|F|
|8,181|8,181|
|Unrestricted|Total|
|funds|funds|
|2021|2021|
|2,429|2,429|
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|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022|2022|2022|
|Staff|costs of raising|funds|—wages and salaries|7,725|9,387|17,112|
|Staff|costs of raising|funds|—Nl|985|1,122|2,107|
|Staff|costs of raising|funds|- pension costs|220|396|616|
|Other|costs of raising|funds||1,539||1,539|
|Total|2022|||10,469|10,905|21,374|
##
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2021|
|Staff|costs of raising|funds|—wages and salaries|7,500|3,983|11,483|
|Staff|costs of raising|funds|—Nl|913|428|1,341|
|Staff|costs of raising|funds|- pension costs|219|83|302|
|Other|costs of raising|funds||444||444|
|Total|2021|||9,076|4,494|13,570|
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||||Unrestricted|Restricted||
|---|---|---|---|---|---|
||||funds|funds|Total|
||||2022|2022|2022|
|Student|programme||867,976|1,039,282|1,907,258|
|Employer|Index||42,617|85,437|128,054|
|Department||for Opportunities|252,439|250,395|502,834|
|Total 2022|||1,163,032|1,375,114|2,538,146|
||||Unrestricted|Restricted||
||||funds|funds|Total|
||||2021|2021|2021|
|Student|programmes||163,083|1,014,308|1,177,391|
|Employer|Index||15,928|55,677|71,605|
|Department||for Opportunities|210,467|322,634|533,101|
|Total 2021|||389,478|1,392,619|1,782,097|
##
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||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2022|2022|2022|
|Student|programmes||1,622,183|285,075|1,907,258|
|Employer|Index||102,965|25,089|128,054|
|Department||for Opportunities|458,893|43,941|502,834|
|Total 2022|||2,184,041|354,105|2,538,146|
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|ANALYS|IS|OF EXPENDITURE BYACTIVITI|ES (CONTINUED)|||
|---|---|---|---|---|---|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2021|2021|2021|
|Student|programmes||1,031,171|146,220|1,177,391|
|Employer|Index||66,763|4,842|71,605|
|Department||for Opportunities|516,865|16,236|533,101|
|Total 2021|||1,614,799|167,298|1,782,097|
##
||||Department||
|---|---|---|---|---|
||Student|Employer|for|Total|
||programmes|Index|Opportunities|funds|
||2022|2022|2022|2022|
||f.|F|F|f.|
|Staff costs|66,351|3,903|7,806|78,060|
|Depreciation|6,152|||6,152|
|Other staff costs|8,416|1,804|1,804|12,024|
|Printing,
postage and stationery|33,490|1,155|3,850|38,495|
|Premises costs|82,673|4,863|9,726|97,262|
|Travel and subsistence|30,133||5,318|35,451|
|Miscalleneous|35,252|2,074|4,147|41,473|
|Legal and professional|22,581|11,290|11,290|45,161|
|Loss on disposal of fixed assets|27|||27|
|Total 2022|285,075|25,089|43,941|354,105|
##
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||ANALYSIS|OF SUPPOR|T CO|ST|S (contin|ued)|||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Department||
||||||||Student|Employer|for|Total|
|||||||prog rammes||Index|Opportunities|funds|
||||||||2021f|2021|2021|2021|
||Staff costs||||||11,681|403|1,342|13,426|
||Depreciation||||||4,766|||4,766|
||Other Staff costs||||||4,663|166|536|5,365|
||Printing,
postage and stationery||||||8,539|294|981|9,814|
||Premises costs||||||48,767|1,682|5,605|56,054|
||Travel and subsistence||||||1,040||116|1,156|
||Miscalleneous||||||17,623|608|2,025|20,256|
||Legal and professional||||||48,988|1,689|5,631|56,308|
||Loss on disposal of fixed||assets||||153|||153|
||Total 2021||||||146,220|4,842|16,236|167,298|
|10.|AUDITORS'|REMUNERATION|||||||||
||||||||||2022|2021|
||Fees payable|to the Charitable||Company's||auditor|for the audit of|the|||
||Charitable|Company's|annual|accounts|||||27,240|14,820|
||Fees payable|to the Charitable||Company's||auditor|in respect of:||||
||All non-audit|services not included|||above||||600|133|
##
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||2022|2021|
|---|---|---|
|Wages and salaries|1,375,827|1,015,648|
|Social security costs|135,913|93,496|
|Other pension costs|41,121|32,969|
||1,552,861|1,142,113|
||||||||||2022|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||No.|No.|
|Average||number ofemployees||||||||48|37|
|The|number||of employees|whose|employee|benefits|(excluding|employer|pension|costs)|exceeded|
|F60,000||was:||||||||||
||||||||||2022||2021|
|||||||||||No.|No.|
|In the|band f70,001 - 680,000|||||||||||
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|||Fixtures and|Computer||
|---|---|---|---|---|
|||fittings|equipment|Total|
||Cost or valuation||||
||At 1 October 2021|2,701|16,474|19,175|
||Additions|5,041|22,622|27,663|
||Disposals|(130)||(130)|
||At 30September 2022|7,612|39,096|46,708|
||Depreciation||||
||At 1 October 2021|1,974|11,937|13,911|
||Charge for the year|486|5,666|6,152|
||On disposals|(103)||(103)|
||At 30September 2022|2,357|17,603|19,960|
||Net book value||||
||At 30September 2022|5,255|21,493|26,748|
||At 30September 2021|727|4,537|5,264|
|13.|DEBTORS||||
||||2022|2021|
||||F|F|
||Due after more than one year||||
||Other debtors||8,490|8,490|
||||2022|2021|
||Due within one year||||
||Other debtors||14|14|
||Prepayments
and accrued income||352,085|277,879|
||||352,099|277,893|
##
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||||2022|2021|
|---|---|---|---|---|
|Other taxation|and social security||49,580|31,089|
|Other creditors|||8,074|2,472|
|Accruals and deferred||income|111,104|239,054|
||||168,758|272,615|
##
|||||2022|2021|
|---|---|---|---|---|---|
|Accruals|and|deferred|income|66,225||
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|payme|nts|under non-cancellable
operating
leases as|follows:||
|---|---|---|---|---|
||||2022|2021|
|Within|1|year|58,940|31,892|
|Between||1 and 5years|89,275||
|Total|||148,215|31,892|
##
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|||||2022|2021|
|---|---|---|---|---|---|
|Financial|assets|||||
|Financial|assets measured|at amortised|cost|449,069|252,149|
|||||2022|2021|
|Financial|liabilities|||||
|Financial|liabilities measured|at amortised|cost|52,953|127,642|
##
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||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||||Balance at 1|||30|
|||||October|||September|
|||||2021f|Income|Expenditure|2022|
|Unrestricted
funds||||||||
|General funds||||1,313,077|1,308,799|(1,173,501)|1,448,375|
|Restricted funds||||||||
|Health
Education|England|||101,336|224,000|(226,896)|98,440|
|JP Morgan Chase|(2017-21)|||198,391||(88,285)|110,106|
|JP Morgan Chase|(2022-25)||||264,900|(259,354)|5,546|
|Eurofins|||||17,000|(17,000)||
|Readman
Foundation||Fund|||22,750|(2,534)|20,216|
|Macquarie
Group|Foundation||(2022)||100,000|(41,853)|58,147|
|Matthew
and Sian|Westerman|||3,332|113,284|(116,616)||
|Generation
Foundation||||(17,145)|250,000|(240,028)|(7,173)|
|Steve Morgan||||(27)|25,000|(24,973)||
|The Robertson
Trust||||(187)|35,000|(34,813)||
|BP International|||||18,100|(18,100)||
|Linklaters||||12,114|66,907|(79,021)||
|Catalyst for Impact Fund||||67,000|62,000|(89,826)|39,174|
|Cognizant
Foundation||(2021)||51,572||(51,572)||
|Freshfields
Bruckhaus||Deringer||15,268|57,523|(57,968)|14,823|
|Cognizant
Foundation||(2022)|||244,524|(33,580)|210,944|
|Merton College|||||3,600|(3,600)||
|||||431,654|1,504,588|(1,386,019)|550,223|
|Total offunds||||1,744,731|2,813,387|(2,559,520)|1,998,598|
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||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||||Balance at|||30|
|||||1 October|||September|
|||||2020f|Income|Expenditure|2021|
|Unrestricted
funds||||||||
|General funds||||485,807|1,225,824|(398,554)|1,313,077|
|Restricted funds||||||||
|Sofronie Foundation|||||50,000|(50,000)||
|Health
Education|England|||136,009|224,000|(258,673)|101,336|
|JP Morgan Chase|(2017-21)|||201,548|193,064|(196,221)|198,391|
|Alstom||||1,004||(1,004)||
|Credit Suisse (Cardiff)|||||74,423|(74,423)||
|Readman
Foundation||Fund||584||(584)||
|Macquarie
Group|Foundation||(2021)||50,000|(50,000)||
|Matthew
and Sian|Westerman|||49,671|124,944|(171,283)|3,332|
|Generation
Foundation||||161,176|250,000|(428,321)|(17,145)|
|Steve Morgan|||||25,000|(25,027)|(27)|
|The Robertson
Trust||||(1,226)|35,000|(33,961)|(187)|
|BP International|||||15,000|(15,000)||
|Linklaters|||||54,132|(42,018)|12,114|
|Catalyst for Impact Fund|||||67,000||67,000|
|Cognizant
Foundation||(2021)|||53,817|(2,245)|51,572|
|Freshfields
Bruckhaus||Deringer|||35,606|(20,338)|15,268|
|The Mullany
Fund|||||18,415|(18,415)||
|Merton College|||||3,600|(3,600)||
|Close Brothers|||||6,000|(6,000)||
|||||548,766|1,280,001|(1,397,113)|431,654|
|Total offunds||||1,034,573|2,505,825|(1,795,667)|1,744,731|
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|ANALYSIS O|F NET ASSETS BETWEEN FUNDS|- CURRENT YEAR|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|Tangible fixed|assets|26,748||26,748|
|Debtors due after more than one year||8,490||8,490|
|Current assets||1,515,670|682,673|2,198,343|
|Creditors due|within one year|(102,533)|(66,225)|(168,758)|
|Creditors due|in more than one year||(66,225)|(66,225)|
|Total 2022||1,448,375|550,223|1,998,598|
##
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|ANALYSIS OF NET ASSETS BETWEEN FUNDS|- PRIOR YEAR|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2021|2021|2021|
|Tangible fixed assets|5,264||5,264|
|Debtors due after more than one year|8,490||8,490|
|Current assets|1,458,054|545,538|2,003,592|
|Creditors due within one year|(158,731)|(113,884)|(272,615)|
|Total 2022|1,313,077|431,654|1,744,731|
|||||2022|2021|
|---|---|---|---|---|---|
||Net income|for the year (as per Statement of Financial Activities)||253,867|710,158|
||Adjustments
for:|||||
||Depreciation|charges||6,152|4,766|
||Dividends,|interests
and rents from|investments||(159)|
||Loss on the|sale of fixed assets||27|153|
||(Increase)
in debtors|||(74,206)|(105,267)|
||(Decrease)|in creditors||(37,632)|(59,833)|
||Net cash provided
by operating||activities|148,208|549,818|
|23.|ANALYSIS|OF CASH AND CASH|EQUIVALENTS|||
|||||2022|2021|
||Cash at bank|||1,846,244|1,725,699|
##
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|||||||At 1||At 30|
|---|---|---|---|---|---|---|---|---|
|||||||October||September|
|||||||2021|Cash flows|2022|
|Cash|at|bank|and|in|hand|1,725,699|120,545|1,846,244|